- MAGA crypto has outperformed BTC as Trump’s profitable odds surged.
- The US election end result will decide whether or not MAGA crypto survives or not.
Though Bitcoin [BTC] has been one of the tracked ‘Trump commerce’ given the previous president’s rising odds of profitable the US election, different cash like MAGA crypto have additionally benefited.
The memecoin surged by 33% up to now seven buying and selling days, outperforming even BTC, which rallied about 6% over the identical interval.
Nonetheless, if the US election end result seems as prediction websites like Polymarket had been projecting, then MAGA and the associated cash might explode right into a wild rally.
US elections vs MAGA
As of press time, Polymarket’s odds of Trump profitable stood at 66%, in opposition to Kamala’s 34%. With a number of fashions and prediction websites pointing to increased possibilities of a Trump win, such an end result might set off one other wild run for MAGA crypto.
Supply: Polymarket
The above excessive conviction has remained massive, with whales putting million-dollar bets on Trump’s doubtless win.
Curiously, the markets appeared to be leaning in the direction of the identical state of affairs painted by prediction websites.
In keeping with buying and selling agency QCP Capital, BTC and crypto may benefit greater than US equities if Trump wins the elections. The agency stated,
“Rising odds of a Trump victory have bolstered each shares and Bitcoin. We imagine BTC is especially well-positioned to learn within the medium time period in comparison with equities.”
MAGA key value ranges
If that’s the case, MAGA and associated cash like DJT might explode, too, and even outperform BTC once more.
At press time, social quantity for MAGA had hiked to a two-month excessive, indicating sturdy traction and curiosity in social media channels. This traction might enhance MAGA’s value prospects.
Nonetheless, the sentiment dropped to the destructive territory, indicating market’s short-term warning on the memecoin.
Supply: Santiment
MAGA was valued at $4.3 on the worth charts at press time. Nonetheless, an explosive transfer might push in the direction of $12, a July and bearish order block which may act as a key resistance and roadblock. If that’s the case, that would set off a 200% potential rally.
But when Trump doesn’t win, MAGA might even drop to zero. This makes subsequent week a pivotal second for MAGA and associated political memecoins.
Supply: MAGAUSDT, TradingView